Welcome to our dedicated page for General Mills news (Ticker: GIS), a resource for investors and traders seeking the latest updates and insights on General Mills stock.
General Mills, Inc. reports developments across a global packaged-food portfolio that includes cereal, snacks, convenient meals, dough, baking products, ingredients, pet food and superpremium ice cream. Recurring updates cover brands such as Cheerios, Nature Valley, Old El Paso, Pillsbury, Betty Crocker, Blue Buffalo, Häagen-Dazs, Gushers, Fruit by the Foot, Fruit Roll-Ups, Lucky Charms and Trix.
Company news also includes quarterly financial results, outlook commentary, product launches, packaging and ingredient initiatives, portfolio actions, pet-food marketing, foodservice and international activity, leadership and board changes, and global responsibility reporting tied to food, agriculture, environmental and community programs.
General Mills (NYSE: GIS) has acquired Tyson Foods' pet treats business for $1.2 billion in cash, which includes the brands Nudges, Top Chews, and True Chews. The acquisition aims to align with General Mills' Accelerate strategy and enhance its BLUE pet food portfolio. The acquired business generated over $240 million in net sales in the year leading up to April 3, 2021, and includes a manufacturing facility in Independence, Iowa.
General Mills (NYSE: GIS) reported its fiscal 2021 results with net sales at $18.1 billion, a 3% increase, while fourth-quarter net sales fell 10% to $4.5 billion due to an extra week last year and reduced consumer demand. Gross margins declined slightly, and operating profit was down 34%. For fiscal 2022, the company anticipates organic net sales will decline 1-3% and adjusted diluted EPS will be flat to down 2%. Total input cost inflation is expected at 7%. General Mills continues to execute its Accelerate strategy focused on sustainable growth and shareholder returns.
The General Mills Board of Directors has announced a quarterly dividend of $0.51 per share, reflecting a 4% increase from last year's $0.49. This dividend is payable on August 2, 2021, to shareholders of record as of July 9, 2021. General Mills has maintained uninterrupted dividend payments for 122 years, showcasing its commitment to returning value to shareholders. In fiscal 2020, the company reported net sales of $17.6 billion, along with an additional $1.0 billion from non-consolidated joint ventures.
Summary not available.
General Mills (NYSE: GIS) will report its fiscal 2021 fourth quarter and full year results on June 30, 2021. A press release, management remarks, and supporting slides will be available that morning, followed by a webcast at 8:00 a.m. CT for Q&A. In fiscal 2020, General Mills achieved net sales of $17.6 billion, with an additional $1.0 billion from non-consolidated joint ventures. Interested parties can access the webcast and materials at www.generalmills.com/investors.
General Mills celebrates Memorial Day Weekend as a pivotal moment for families to gather after a year of isolation. A recent survey indicates many consumers are opting to buy fresh food and plan to continue cooking at home post-pandemic. The company suggests easy-to-make recipes for home gatherings, anticipating increased consumer interest in cooking. General Mills emphasizes its commitment to creating dishes that allow for enjoyable time with guests rather than being tied to the kitchen.
Nature Valley has taken a significant step in environmental sustainability by launching the first store drop-off recyclable wrapper for its Crunchy granola bar, approved by How2Recycle. Partnering with eco-friendly actor Zac Efron and Down to Earth, they aim to promote awareness of recycling practices. With 70% of Americans wanting to reduce plastic waste, this initiative targets 295 million potential recyclers. The company also aims for 100% recyclable packaging by 2025, encouraging other brands to join this movement.
Cheerios is encouraging Canadians to support Team Canada as the Olympic Games approach in under 70 days. Athletes will compete without overseas spectators, making local support crucial. To enhance this initiative, Cheerios is reintroducing its 'Cheer' boxes, allowing Canadians to write personalized messages to athletes aiming for gold. Available on Honey Nut, Multi-Grain, and Yellow Box Cheerios, these Cheer Cards are designed to boost morale and connect Canadians directly with their sports heroes.
General Mills (NYSE: GIS) will present at the BMO Global Farm to Market Conference on May 20, 2021, at 1:40 PM CT. CEO Jeff Harmening will discuss the company’s Accelerate strategy, its business performance, and the proposed acquisition of Tyson Foods' pet treats segment. The event will include a Q&A session with attendees. The presentation can be accessed via webcast on the General Mills investor website, with a replay available after the event. General Mills reported net sales of $17.6 billion in fiscal 2020.
General Mills (NYSE: GIS) has agreed to acquire Tyson Foods’ (NYSE: TSN) pet treats business for $1.2 billion cash, effectively costing $975 million after a $225 million tax benefit. This acquisition includes brands like Nudges, Top Chews, and True Chews, and is aimed at strengthening General Mills' pet platform. The business generated over $240 million in net sales in the past year. Funding will come from cash reserves and short-term borrowings, with expected earnings benefits after the deal closes in Q1 FY 2022.